Pitches to fix bad credit can be a scam

Every day, consumers pay untold sums to companies that promise a quick credit fix. Most of the time, that money is wasted. I understand why these offers might seem so enticing. Good credit can get you much better interest rates for a car or home loan. A bad credit history can leave you stuck with loans carrying high rates and other onerous terms. In some cases, bad credit can even cost you a job. But make no mistake about it.

While there are some legitimate credit-repair companies, many of the claims you hear advertised are usually false and a con to get your cash. On my XM satellite radio show, a couple called in recently to ask if they had done the right thing in signing up with a company that said it could remove negative information from their credit files. Now mind you, the information was correct.
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